Obama administration pushes to make mortgage modifications permanent

The Obama administration yesterday announced a renewed push to get mortgage companies to convert hundreds of thousands of temporarily restructured home loans into permanent ones by the end of the year to help keep struggling homeowners from falling into foreclosure.

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Shiesty lenders may not be able to be so shiesty anymore

Consumers win with federal rules that require mortgage lenders to spell out all fees and penalize those who lie. The rules go into effect in January.

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Slight changes in the home sales market

Average home sale price virtually unchanged in third quarter. A survey of the nation's 32 largest metro areas shows a slight 0.3% increase from the same period a year ago, though some markets experience double-digit shifts.

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Foreclosure vs. Personal Morals

It seems foreclosures are no longer a morale issue; people are being smart and treating it as a business decision, weighing out the pros and cons. With that being said there will be many more foreclosures on the horizon.

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California Housing Affordability Continues to Decrease

Housing affordability continued to creep downward throughout the state during the third quarter of 2009 as a result of incremental price increases due to increased demand for homes, the California Building Industry Association said today


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Construction of new homes in California continued to decline in October

Construction of new homes in California continued to decline in October, prompting California homebuilders to call on state lawmakers to reexamine the benefits of the state new-home buyer tax credit enacted earlier this year in hopes of getting similar legislation passed to stimulate the housing sector and the economy, the California Building Industry Association announced today.

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FNMA states that hope is coming soon for the housing market.

The deepest and longest recession since the Great Depression appears to be over, Fannie Mae economists say, projecting sales of new and existing homes will jump 11 percent next year and that national home prices will stabilize, remaining essentially flat.

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Monthly rents still costs as much or higher than a mortgage payment

Why would anyone think that with so many people loosing their homes and the demand for rental homes (people not able to buy due to a foreclosure) being so high that monthly rents would be lower... was I the only one in class that day for basic economics?

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